Mahindra’s Auto Sector sales grew 17% in November

Mumbai : Mahindra & Mahindra Ltd. (M&M Ltd.), a part of the USD 20.7 billion Mahindra Group today reported 17% growth in its November Sales at 45,101 vehicles, compared to 38,570 vehicles during November 2017.

The company’s domestic sales touched 41,564 vehicles during November 2018, as against 36,039 vehicles in November 2017, a growth of 15%. The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 16,188 vehicles in November 2018, as against 16,030 vehicles in November 2017.

In the Commercial Vehicles segment, the company sold 19,673 vehicles in November 2018, registering a 26% growth. In the Medium and Heavy Commercial Vehicles segment, M&M sold 637 vehicles for the month. Exports for November 2018 stood at 3,537 vehicles, a growth of 40%.

Commenting on the monthly performance, Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “We have registered a double-digit growth in our overall sales. However, adverse macro-economic conditions have impacted the growth forecast for the automotive industry in general. Going forward, we hope that decrease in fuel prices and improving liquidity will drive demand for passenger vehicles. At Mahindra, we remain upbeat due to our new product launches of Marazzo, Alturas G4 and the upcoming launch of our new SUV codenamed S201.”